Robinhood, Pinterest And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher by more than 250 points on Thursday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

Pinterest

• The Trade: Pinterest, Inc. PINS SVP, Products Naveen Gavini sold a total of 9,598 shares at an average price of $28.58. The insider received around $274,298 from selling those shares.
• What’s Happening: Wells Fargo recently upgraded the stock to Overweight from Equal-Weight.
• What Pinterest Does: Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to.

Have a look at our premarket coverage here

Dropbox

• The Trade: Dropbox, Inc. DBX Chief Legal Officer Bart Volkmer sold a total of 10,000 shares at an average price of $27.55. The insider received around $275,486 from selling those shares.
• What’s Happening: Dropbox recently announced Dropbox Dash and Dropbox AI, new AI-powered product experiences designed to improve modern work and help customers get more out of their content.
• What Dropbox Does: Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB.

Robinhood Markets

• The Trade: Robinhood Markets, Inc. HOOD CFO Jason Warnick sold a total of 40,000 shares at an average price of $12.00. The insider received around $480,000 from selling those shares.
• What’s Happening: Multiple firms, on Thursday, raised their respective price target on the stock.
• What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.

TD SYNNEX

• The Trade: TD SYNNEX Corporation SNX 10% owner Apollo Management LP sold a total of 2,300,000 shares at an average price of $94.50. The insider received around $217.35 million from selling those shares.
• What’s Happening: TD SYNNEX reported worse-than-expected second-quarter financial results.
• What TD SYNNEX Does: TD Synnex Corp is a global distributor and solutions aggregator for the IT ecosystem.

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